Bullnet Gestion Launches Third Venture Capital Fund

Bullnet Gestión, a Madrid, Spain-based venture capital firm, has held the first closing of its third fund, at €42m

Bullnet Capital III SCR, which has a final target of €50m, aims to invest in Spanish early-stage ICT companies with a strong intellectual property component and a business-to-business model.
The fund, which received support from the European Investment Fund, will primarily support companies operating in sectors such as semiconductors, engineering software, and hardware-software systems.

Founded by Javier Ulecia and Miguel del Cañizo, the firm has already deployed Bullnet Capital I, launched in 2002 with a capital commitment of €18m, and Bullnet Capital II, its second €30m fund.